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RBI imposes monetary penalty on IDBI Bank

12 Apr 2018 Evaluate

The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 3 crore on IDBI Bank, in exercise of powers vested in it under the provisions of the Banking Regulation Act, 1949, for non-compliance with the directions issued by on Income Recognition and Asset Classification (IRAC) norms.

IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.

Peers
Company Name CMP
HDFC Bank 740.00
ICICI Bank 1343.50
Axis Bank 1250.00
Kotak Mahindra Bank 415.00
Indusind Bank 958.00
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